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| Condo units delivered up by 31% in H1 2021 Posted: 18 Aug 2021 08:04 AM PDT THE number of condominium units delivered in Davao City for the first half of 2021 increased by 31 percent to 1,894 units from only 1,444 in the same period of last year. During the online Davao Property Briefing with Colliers Philippines and Damosa Land on August 12, 2021, it was reported that Davao remains to be the third-largest condominium hotspot in the country with 18,540 condo unit stocks as of the first quarter of 2021. Moreover, another 4,000 units are expected to be available by 2021 to 2023 per annum. The number of condo unit stocks in Davao City follows after that of Metro Manila and Metro Cebu with 137,600 and 50,100 stock units respectively. "How has the residential market been affected by the Covid-19 pandemic? There's much less supply. Around 500 units [were] taken up for the first half of 2021. Only around 1,000 units were launched during that period. Starting 2020, Covid-19 has really disrupted the demand and supply of condominium units in Davao City," said Joey Roi Bondoc, Associate Director for Research of Colliers Philippines who added that they estimate it would take half a year for the remaining condominium inventory in Davao City to be sold out. Despite this, Bondoc said the recovery of the vertical real estate sector will "hinge on the success of the vaccine rollout." "Right now, what we're seeing is there has been a stable demand and supply of residential projects which indicates post-pandemic growth prospects," he said. Currently, there are more than 4,200 condo units to be delivered before 2021 ends. This is a 21.61 percent increase from the 3,475 units delivered in 2020. In Bondoc's presentation, developers that would be launching their condo units within 2021 include Verdon Parc Maurin (582 units), Verdon Park Trevans (577 units), Camella CoHo - The Acropolis (476 units), Two Lakeshore Drive T2 and T3 (both with 319 units each), and Amani Grand Citygate Davao C (315 units).  This posting includes an audio/video/photo media file: Download Now |
| AIA Philam Life is now AIA Philippines Posted: 18 Aug 2021 07:59 AM PDT AIA Philam Life changes its brand name to AIA Philippines, beginning a new chapter in its 74-year history to better serve Filipino customers who seek greater resilience in challenging times. The new name marks a significant milestone in the evolution of AIA Philam Life into a company with local understanding and global capabilities at the forefront of innovation. "Our gratitude to our employees, stakeholders, and customers who were behind our 74 years of strength. As we become AIA Philippines, we are excited to face a new beginning in our history, one that makes us even more confident and ready for the future," shares AIA Philippines Chief Executive Officer Kelvin Ang. AIA Regional Chief Executive Jacky Chan expressed AIA Group's confidence in AIA Philippines' transition: "Our Purpose of helping people to live Healthier, Longer, Better Lives has never been more relevant than it is today. Against the backdrop of these challenging circumstances, we are making this transition because we know that we must take the step to fully embrace a future full of possibilities - and to help close the insurance gap for families across the Philippines." Following the rebrand, AIA Philippines will continue its transformation in the coming months as aligned with the strategy laid out by the AIA Group. "While we are the same company, we need to evolve to keep up with the changing needs of our customers," explains Ang. "The pandemic became the catalyst that accelerated our transformation. These changes—in our organization and people development, our approach to social responsibility and financial discipline, the way our customers experience our products and services, among many others—will all come together to help us realize our Purpose. We will keep you posted on these as they happen." Amidst the novel changes, AIA Philippines continues to reinforce its purpose. "At the heart of AIA Philippines, we continue to cater to the protection and long-term savings needs of our customers through relevant and innovative offerings. And with this, we remain true to our commitment of empowering Filipinos to live Healthier, Longer, Better Lives," Ang says. (PR)  This posting includes an audio/video/photo media file: Download Now |
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